Skip to main content
Tags: trade experts | trump | NAFTA

Trade Experts Warn Trump Could Cost American Jobs by Threatening NAFTA

Trade Experts Warn Trump Could Cost American Jobs by Threatening NAFTA

 
(Getty Images)

By    |   Wednesday, 28 December 2016 09:25 AM EST

Despite President-elect Donald Trump’s contempt for NAFTA being a cornerstone of his appeal to working-class voters during the campaign, trade agreement experts warn that actually scrapping the deal will cause much more harm than good to American jobs, Politico reports.

“The slightest hint that things are going to be disrupted could cause capital flight from the U.S.,” said Dan Ikenson, director of the trade policy center at the free-market Cato Institute, explaining that dramatically changing the more than two-decade-old pact could threaten 14 million American jobs that rely on trade with Canada and Mexico. Ikenson said changes would cause uncertainty throughout the North American business community, which has invested billions of dollars in developing ways to produce a myriad of goods using labor from multiple countries.

The incoming administration has already stated that it understands any moves it makes must be carefully done. The Hill reported earlier this month that members of the Trump transition team are trying to ease concerns among corporate leaders that the new administration will trigger trade wars with major trading partners.

Anthony Scaramucci, a senior advisor on the Trump transition team, told business leaders that the president-elect is seeking to make trade deals fairer for American interests, not scrap them.

Business leaders are not even pressuring the incoming administration for a renegotiation of the deal, warning that it might not be worth it if it could risk millions of American jobs which depend on exports to Mexico and Canada, Politico reported.

However, some have said that possible improvements could be made to the deal that could reduce barriers and improve the competitiveness of U.S. manufacturing. Trump has so far stayed vague about what exact changes he thinks would benefit Americans without threatening the overall accord.

Kenneth Smith Ramos, head of Mexico's trade and NAFTA office in Washington, stressed to Politico that Canada and Mexico are the top two export destinations for the United States, taking in more than $500 billion in U.S. goods every year.

© 2024 Newsmax. All rights reserved.


Politics
Despite President-elect Donald Trump's contempt for NAFTA being a cornerstone of his appeal to working-class voters during the campaign, trade agreement experts warn that actually scrapping the deal will cause much more harm than good to American jobs, Politico reports.
trade experts, trump, NAFTA
330
2016-25-28
Wednesday, 28 December 2016 09:25 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved